Morning! US Futures are mixed, with Industrials continuing their climb, but Nasdaq in the red as AMD craters 10%. Mixed Bag in Europe, where the DAX is up small. Fins and Materials showing a bid, while Luxury Consumer doing well behind Kering – but Bevvy under pressure with Heineken. In London, Lloyds weighed early, but a afternoon turnaround sees banks nearing unchanged - Miners getting hit hard as Antofagasta drops on #s. FTSE is down 10bp – and Volumes are pacing erll, with most exchanges trading 30-40% above trend. In Asia, Nikkei down 45bp, 1stloss in 17 sessions - Hang Seng up 50bp as staples and autos jumped - Shanghai up 20bp - KOSPI up small - Aussie up 20bp - Sensex up 1.4% as Banks ripped higher on the recap plan

The US 10YY is testing 2.45% as Bunds get sold. German Yields approaching 50bp into the ECB’s tapering calltomorrow. The DXY is on 3month highs as the “Dollar is in demand as Fed chair speculation takes hawkish turn” – Gains are reversing a bit, with DXY getting pushed away from 94 early as a Record IFO Print boosts Euro. Sterling is bid on better GDP as hawks circle next week for a BoE Hike, while the A$ continues to get smoked, off nearly 1% on weaker CPI data. Ore off small, bringing 3day losses to almost 4%, but all metals are down, with Copper down nearly 1% and Gold falling a further 40bp. Energy complex is mixed, with WTI in the red slightly, but Gasoline buoyed by a huge draw overnight in API data.